Nifty Tips
It was yet another day of consolidation for the market as Nifty kept drifting in the range of 5600-5650. Analysts "believe consolidation is an intermediate pause" in an otherwise medium term uptrend. Auto companies hogged limelight in today's trade after sales accelerated ahead at full speed at the onset the festive season.
A minor improvement in the manufacturing growth data also boosted the positive sentiment. Among the sectoral indices, Consumer Durables was the outperformer, up by 5.26%, followed by Auto sector up 2.26%. Realty and Power were also up by more than a percent each. FMCG witnessed profit-booking and was down by about a percent.
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